Adobe Inc. $ADBE Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,705 shares of the software company's stock after selling 23,426 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Adobe were worth $53,198,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock valued at $2,375,345,000 after purchasing an additional 600,146 shares in the last quarter. Northern Trust Corp lifted its holdings in Adobe by 14.5% in the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock valued at $2,363,125,000 after purchasing an additional 672,919 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of Adobe stock traded up $8.4990 during trading hours on Friday, hitting $361.9290. 2,078,350 shares of the company were exchanged, compared to its average volume of 3,767,942. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $367.17 and a 200-day moving average of $390.51. The stock has a market capitalization of $153.53 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.68 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the prior year, the business earned $4.48 earnings per share. The company's quarterly revenue was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America raised their target price on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Robert W. Baird raised their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a research note on Wednesday, July 2nd. Finally, Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $467.58.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.